Shiba Inu’s native token, BoneShibaSwap (BONE), has seen a surge of around 8% in the last 24 hours after the lead developer of the SHIB project, Shytoshi Kusama, hinted that the beta launch of the Layer 2 solution could be imminent. This news has been welcomed by the SHIB community, who have been eagerly awaiting the release of the Shibarium protocol.
The news was first hinted at by a user called “ShibArmy Canada,” who cited a YouTuber’s information that the beta launch could be as early as next week, citing the return of SHIB developer Kaal from mourning his father. Kusama responded to the user, suggesting that if the YouTuber’s information was correct, the user should apologize to him.
The surge in BONE prices began the next day, with the token hitting a low of $1.38 on the 17th of February before beginning its rebound. By the 19th of February, BONE had made its way to its intraday high of $1.659, before settling back down slightly. At the time of writing, BONE is up 7.62% in the last 24 hours at $1.62.
The number of BONE holders has also seen a significant increase since the start of the year, with the current number of holders standing at 74,149 according to Etherscan data. BONE is the token chosen to pay for gas transactions and reward validators and delegators within the Shibarium protocol.
The comments made by Shytoshi Kusama have only further increased the anticipation for the beta launch of the Shibarium protocol. The Layer 2 solution is expected to bring with it an implicit burn amount for the SHIB token, something which the SHIB community is eagerly awaiting.
The SHIB project has been gaining a lot of attention since its launch, with the SHIB token becoming one of the top-performing altcoins of 2021. The surge in BONE prices and the anticipation for the Layer 2 solution is a testament to the progress the SHIB project has made in such a short amount of time.
The SHIB community is now eagerly awaiting the beta launch of the Shibarium protocol, and the potential benefits it could bring with it. With the SHIB project continuing to make progress, the SHIB community is sure to be in for a wild ride in the coming weeks and months.